Good move holding cash right now. Just make sure you don't stay out for too long. I guess prices could still come down a little bit, but sh!t man, if you can get WAMUQ at .03 and WAMKQ between .15 and .20 then you are doing very well.
I actually haven't researched this one enough either, however, it seems that the conversion into preferreds is exactly what was supposed to happen if an exchange event occured. I believe that when the securities were issued and the possibility of converting to the K series preferred upon an exchange event was included in the issuance, then at that time, such k series preferreds are authorized at that time, are accounted for, and are always available in case an exchange event does take place.
I don't know how much of an effect it really has on the value of any of the preffereds. Bottom line is that all of these stocks are going to be the next craze and they would run even if there were 5 billion outstanding.
Make sure you get back in brother. PPS is low everywhere and it is FRIDAY tomorrow.
Misdirection and misinformation is the name of the game and just when you think something is going to happen, nothing does. And just when you think that nothing is going to happen, something does.
crazy crazy crazy crazy crazy
